Why do investment bankers work up to 80-90 hrs a week?

when Letsrun and Wall Street Oasis combine...

I don't know if you read my comment all the way through (since you quoted it), but that was exactly the point I was making. Well put.

Another opinion wrote:

I don't know if you read my comment all the way through (since you quoted it), but that was exactly the point I was making. Well put.

I actually only glanced at the first line of your post and then proceeded to type random arguments that make sense only in isolation. My intention was purely to troll the thread.

you ever done cocaine?

might be the answer to both "why" AND "how"...

I always find it funny to read these things. I work in wall street - but have been on the buy side since day 1 of my career a decade ago. I've never worked more than 40-50/week and it has always been pretty laid back. I have rarely heard even a raised voice.

jjjjjjjjj wrote:

Let me ask you this: just what do you do during that time? Why can't you do the same work in half the time?

Fantasy league football. LRC.com Clicking on ads that promise to get you ripped in 10 days...

crete wrote:

I always find it funny to read these things. I work in wall street - but have been on the buy side since day 1 of my career a decade ago. I've never worked more than 40-50/week and it has always been pretty laid back. I have rarely heard even a raised voice.

and you make infinitely less money

crete wrote:

I always find it funny to read these things. I work in wall street - but have been on the buy side since day 1 of my career a decade ago. I've never worked more than 40-50/week and it has always been pretty laid back. I have rarely heard even a raised voice.

really? What job do you have?

dude, really? wrote:

crete wrote:

I always find it funny to read these things. I work in wall street - but have been on the buy side since day 1 of my career a decade ago. I've never worked more than 40-50/week and it has always been pretty laid back. I have rarely heard even a raised voice.

and you make infinitely less money

clearly you know nothing of wall street. all sell-side guys drool over the prospect of moving to hedge funds.

JuniorRunner wrote:

crete wrote:

I always find it funny to read these things. I work in wall street - but have been on the buy side since day 1 of my career a decade ago. I've never worked more than 40-50/week and it has always been pretty laid back. I have rarely heard even a raised voice.

really? What job do you have?

big swinging dick

crete wrote:

JuniorRunner wrote:

really? What job do you have?

big swinging dick

Nice "Boiler Room" reference

umhhh... no they don't

(oh, the other myths this reminds of)

JuniorRunner wrote:

crete wrote:

big swinging dick

'

Nice "Boiler Room" reference

boiler room took it from liar's poker

In some environments It's impossible to work that much and have the work be of decent quality

Another opinion wrote:

I disagree. The average analyst is definitely working 80 hours a week at a BB, maybe 90. An associate, less. His boss, even less (until he's a partner, then it's back to hell). And keep in mind, the average age of an Ibanker is something like 35, not exactly average analyst territory. I think these horror stories about months of 100 hours a week get played out because of all the analysts that quit before they get anywhere, and the fact that, as people have said, its like a badge of honor to work that much (leading to rampant exaggeration). Maybe my estimate was on the low side, but I still suspect the overall number is a bit less than 80.

Wrong. And no, the hours are consistently bad.

Average age of an Ibanker is 35? LOL.

asdfasfadsdf wrote:

Some people just love money. MOST people wouldn't work so hard, even for that kind of money, but some people will. And if there aren't enough people to fill the job, they just pay more and it raises the threshold to a point where more people are willing to work.

It also weeds out people who aren't 100% committed to the company. That's why medical school residencies have equally ridiculous hours: they want your work to BE your life. They expect that level of dedication, even though it's well known that the additional 40 hours on top of "full time" are nowhere near as productive as the first 40. In the case of doctors, it's done even at the expense of patient safety. Residents who are overworked and sleep-deprived regularly make mistakes that get people killed.

Actually, more mistakes/deaths happen when residents DON'T work such long hours, due to hand-offs and poor communication/miscommunication between residents and different services.

crete wrote:

dude, really? wrote:

and you make infinitely less money

clearly you know nothing of wall street. all sell-side guys drool over the prospect of moving to hedge funds.

clearly you're a blithering fool

jjjjjjjjj wrote:

Let me ask you this: just what do you do during that time? Why can't you do the same work in half the time?

I agree, and tend to think we should be applying that same logic to residents. If you want someone to learn as much as possible, they NEED to be sleeping 8 hours a night. If they're not, you're wasting their time and killing patients in the process. I don't care how tough you are, you're still subject to the realities of human biology.

The #1 thing that teen males lie or exaggerate is the number of sexual partners they have had. If they say it enough, they almost believe their own tales.

The #1 thing that adults (male or female) lie or exaggerate is the number of hours they work per week. Unlike the teen, though they don't just "almost" believe it but they actually believe their own tales.

Here how it works:

1. Guy works a 2-week stretch where his hours are 80 per week. Then he goes back to the normal 55. Does he say he averages 60? No, the high week of 80 is what he says is his new "average".

2. Girl gets an email on a weekend morning at 9am and has to do some research on it. In the middle, at 11am she goes to the mall, has lunch with a friend, runs some errands. She gets back at 5pm and returns to her work assignment. Doesn't finish till 7pm. Ah, 10-hours of work put in on a Saturday!